President of Uzbekistan and Prime Minister of Pakistan attend joint business forum in Islamabad

Today, as part of the business program of the state visit to Islamabad, President of Uzbekistan Shavkat Mirziyoyev, together with Prime Minister of Pakistan Shehbaz Sharif, took part in a joint business forum, reports Dunyo IA correspondent.

According to the press service of the Head of our State, the event was attended by heads and representatives of more than 300 leading industrial enterprises and trading companies, industry organizations, and business entities from both countries.

Pakistani business was represented by companies such as PEL, Waves Singer, Sadaqat, Fauji, Platinum, Fast Cables, National Fruit, Amson Group, Shaigan, Hans International, Secure Logistics Group, NLC, Fairmont, Go Dairy, Engro, Herbion, AGP, Arco, Habib Rafiq, Pakistan Steel Mills, Siddiq Sons, Uniworth, Diners, Fatima Group, Fateh Group, Hub Leather, Siddiq Leather, Royal Leather, Davis, Ahsan Dyeing and many others.

In his address, the Head of state noted with great satisfaction that the high-level talks marked a new stage in the development of Uzbek-Pakistani relations, primarily in the trade, economic, and investment spheres.

For the first time in the history of bilateral cooperation, a protocol was signed, providing for a new quality of economic interaction and an increase in the volume of mutual trade to 2 billion dollars.

Relevant officials of the two countries have been instructed to develop a comprehensive roadmap and implement a mechanism for the prompt resolution of emerging issues.

The President of Uzbekistan outlined the key areas of economic partnership.

These include pharmaceuticals and medicine, light industry, the mining and metallurgical industry and geology, and expanding cooperation in food security.

Pakistani companies were invited to projects for the localization of medicines, biotechnologies, and medical equipment in Uzbekistan. Favorable conditions will be created for Pakistani investors to operate at the Tashkent Pharma Park.

It was noted that there is great potential for cooperation in the joint production of finished textile products for international brands. Uzbekistan is ready to transfer textile enterprises to trust management and establish dedicated leather industry zones for Pakistani partners.

Particular attention was paid to the prospects for joint production of meat, potatoes, and rice, as well as partnership with the National Institute for Genomics and Advanced Biotechnology of Pakistan in the field of seed production and breeding.

Strengthening transport and logistics connectivity was emphasized as a key condition for further expanding trade.

Freight transportation has been launched along the "Pakistan – China – Kyrgyzstan – Uzbekistan" route, air service to Lahore and Islamabad has commenced, and the Trans-Afghan Railway project is being advanced. Starting in April this year, cargo flights to Karachi and direct passenger flights to Lahore will be introduced.

In order to practically strengthen interregional contacts, the initiative to hold the first Forum of Regions this year was supported.

In conclusion, the President of Uzbekistan and the Prime Minister of Pakistan signed a separate protocol on the agreements reached, specifying implementation deadlines and the ministries and agencies of both countries responsible for their execution.

Furthermore, in the presence of the leaders, a ceremony was held to exchange a number of investment, trade, and economic agreements.